Europol and national authorities have dismantled a crypto fraud and money laundering network operating across several European countries. Nine suspects were arrested, and cash, cryptocurrency, and online accounts were seized. Investigators said the group created fake cryptocurrency investment platforms and used deceptive advertising to attract victims.
According to Europol, the network promoted its platforms through online campaigns that promised high returns. Victims were urged to invest and were persuaded to deposit increasing amounts of cryptocurrency. Once funds were transferred, victims were locked out of their accounts. Investigators said the group laundered the proceeds through multiple blockchains and exchanges to obscure their origin. Europol estimated that more than €700 million was laundered.
Authorities seized more than $1.8 million in cash, cryptocurrency, and related funds during coordinated searches. They said the volume of seized material reflects the scale of the operation and the breadth of the financial infrastructure supporting it. Investigators described a system involving web domains, promotional channels, and payment routes used to manage investments and move illicit funds.
The group also used deepfake videos and fabricated advertising campaigns to impersonate public figures and media outlets. Europol said these materials were used to build credibility and encourage victims to trust the platforms. Investigators noted that the use of deepfakes highlights a shift in online fraud tactics, with criminal groups increasingly using advanced digital tools to support their schemes.
The investigation required cooperation among several European countries. Europol coordinated intelligence sharing and financial tracking efforts, while judicial partners supported cross-border searches and arrests. Authorities said the complexity of the laundering methods and the number of countries involved made coordination essential.
The operation took place against the backdrop of wider efforts to target organised crypto-related crime. Recent enforcement actions have focused on services used to launder criminal proceeds, including cryptocurrency mixing operations. Analysts said the dismantling of these networks is part of a sustained effort to reduce opportunities for fraud and limit tools available to criminal groups.
Authorities said investors remain at risk from fraudulent crypto platforms that rely on aggressive advertising and unrealistic promises of returns. They advised individuals to use regulated platforms and to verify investment opportunities before transferring funds. Analysts said the case illustrates how fraudulent schemes exploit interest in digital assets and how quickly losses can occur once funds are transferred to unregulated platforms.
Europol said further investigation continues. Authorities aim to trace outstanding financial flows, identify additional participants, and secure remaining assets linked to the network.